TSX futures fall as oil prices continue to slide

  • by Xavier Trudeau
  • in Financer
  • — Nov 16, 2017
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Canada's main stock index fell on Tuesday, as a third day of falling oil prices put pressure on the heavyweight energy sector, while financial and mining stocks also pulled the index further from the all-time high it hit earlier this month.

At 9:58 a.m. ET (14:58 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 70.48 points, or 0.44 per cent, at 15,842.65.

Seven of the index's 10 main groups ended lower. The energy group retreated 1.5 per cent as oil prices fell for a fourth session, hurt by worries that US supply was rising as global demand growth slows.

Cenovus Energy Inc fell 2.5 percent to C$13.93 and Canadian Natural Resources Ltd retreated 0.9 percent to C$45.89.

The financials group lost 0.4 percent, with Brookfield Asset Management Inc down 2.5 percent at C$52.40.


US crude prices lost 1.6 percent to $55.84 a barrel, while Brent lost 1.7 percent to $62.09.

The largest percentage gainer on the TSX was Martinrea Intl, which rose 11.1 percent, after the vehicle parts maker posted third-quarter earnings that beat expectations.

Premium Brands Holdings Corp shed 7.3 percent to C$94.38 after it reported earnings and revenue that missed expectations and reduced its 2017 organic volume growth forecast.

It touched its lowest intraday level since November 3 at 15,999.10, as uncertainty over the US tax legislation being considered in Congress pushed world stock markets further away from recent record highs.

Teck Resources Ltd climbed 1.9 percent to C$27.80, while copper, one of the metals that the company produces, advanced 1.7 percent to $6,898.5 a tonne.

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